AXA XL head construction reinsurance exits, taps insider to succeed

Re/insurer  AXA XL has appointed a new head of construction and engineering reinsurance, succeeding Toni Vukadinovic who has left the business and is currently on gardening leave.

Francesca De Rosa (pictured) has been promoted to the role, effective June 1.

Based in Zurich, De Rosa will lead AXA XL's construction and engineering treaty and facultative portfolio for international and US clients. She will be responsible for outlining and executing the portfolio strategy.

De Rosa has more than 15 years of underwriting experience in downstream energy, property and engineering in both insurance and reinsurance, across Europe, the Middle East and Africa, Asia Pacific and Latin America.

Most recently, she held the position of deputy head of construction/engineering treaty and facultative, underwriting manager. She has held progressively senior roles since joining AXA XL, then Catlin, in 2011. Prior to that, she held a variety of underwriting positions at various companies in the industry, including Infrassure, Munich Re Italia Spa, and Zurich Insurance Company.

De Rosa is also a member of the executive committee of the International Association of Engineering Insurance – and leader of the Statistics Permanent Working Group.

Bertrand Romagne, chief executive, Europe and chief underwriting officer for property and casualty, reinsurance, said: "We would like to thank Toni for his valuable contributions to the business and wish him well for the future.

"The construction industry has faced huge disruption due to the global pandemic. Delays to projects, shortages of materials and a lack of skilled workers has brought and continues to bring new challenges to this industry.

"Ensuring we remain at the forefront of these evolving risks is key to us delivering on our 'payer to partner' strategy for our clients. Having the right talent in place is central to our strategy and I believe that Francesca's strong underwriting experience and knowledge positions her ideally to deliver for our clients."